Court : Madhya Pradesh
Decided on : Sep-20-1993
Reported in : 1994ACJ987
..... the driver of the vehicle and the owner is made liable on the principle of vicarious liability, the insurer is further made liable on the basis of a contract of indemnity. such contracts of indemnity contain certain stipulations and conditions.if the insurer is asked to indemnify the owner of the vehicle which is clearly on the plain reading against the terms and conditions ..... of contract of indemnity (insurance) the insurer will be put to hardship and great difficulty. the insurance company is holding the money of insured as a trustee of the same. this is a public .....Tag this Judgment!
Court : Delhi
Decided on : Apr-23-1993
Reported in : 51(1993)DLT672; 1993(27)DRJ48
..... would indemnify the builder for the losses suffered by the builder during such period. in essence this clause appears to be a contract for indemnity. the contract for indemnity has been defined under section 124 of the indian contract act as 'a contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself or by ..... when completed was to be shared equally between the petitioner and the respondent. the petitioner has referred to clauses 20 and 29 of the agreement which inter alias provided for indemnity and payment of a stipulated sum in the event of the respondent's failure to complete the building within the time referred to in the agreement and that no amendment ..... which was the question for determination. in that case there was no question of determining what is the adequate compensation as provided or envisaged under section 74 of the indian contract act. in any event i am unable to accept the contention that for an amount even though unascertained and undetermined, subject to a maximum of rs. 3 lakhs, inspire of ..... party complaining of the breach is entitled, whether or not actual damage or loss is proved to have been caused therein to receive from the party who has broken the contract reasonable compensation not exceeding the amount so named or as the case may be, the penalty stipulated for.(9) a reading of the complete section and the illustrations provided there .....Tag this Judgment!
Court : Chennai
Decided on : Feb-26-1993
Reported in : I(1995)ACC454
..... bench of this court, in queensland insurance co. ltd. v. rajalakshmi ammal : (1970)1mlj151 took the view that an insurance policy is a contract of personal indemnity and the insurer cannot be compelled to accept responsibility in respect of a third party quite unknown to him and as the insurance company had not ..... also put forward the plea that the policy issued by it in favour of the sixth respondent covering the vehicle in question was a personal contract of indemnity, which lapsed upon the transfer of the lorry by the sixth respondent to the seventh respondent and the seventh respondent alone would be liable to ..... is liable for an accident to a third party, came to be considered and it was observed as follows:.a contract of insurance in relation to a vehicle is one of personal indemnity confined to the owner and the liability of the insurance company is determined by the terms and conditions of the ..... any provision in the policy for transfer. on a transfer of the vehicle, there is no substitution of the transferee, on the beneficiary of the personal indemnity. under the provisions of the motor vehicles act also, there is no statutory novation, as it were, in cases of transfer of a vehicle. ..... vehicle, and under another wholly irrespective of the ownership of any vehicle....again at page 460, it was observed as follows:.where the subsistence of a contract of insurance is itself questioned, it would not be a case contemplated by section 96(2) at all, for, as pointed out earlier, those .....Tag this Judgment!
Court : Orissa
Decided on : Nov-05-1993
Reported in : 1994(I)OLR88
..... not accessible to the insurers and he is bound to disclose to them everything which is likely to affect their judgment. insurance is a contract of indemnity not against accident, but against loss caused by accident. these aspects have been highlighted by n. p. picard in his book 'elements ..... good to the assured any loss which he may sustain by reason of the named peril. the contract of insurance is called an sleatory contract because it depends upon an uncertain event. therefore, indemnity is the first principle of insurance. the second great principle is that the assured must have an ..... was false in some material particular in cannot be said in all cases that even knowing that there was accident the insurer agreed to indemnity the accident which might have taken place that date prior to taking of the insurance policy. section 64-vb of the insurance act, ..... insurable interest, i.e., to effect a valid contract of insurance the assured must have something at stake, something to lose by the happening ..... of insurance law'. the burden of proving that the insured is guilty of non-disclosure or misrepresentation of a material fact lies on the insurer. where the proposal is made the basis of the contract .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Cochin
Decided on : Feb-26-1993
Reported in : (1993)45ITD488(Coch.)
..... amount of such damage or at its option reinstate or replace such property or any part thereof. thus, it is a case of contract of insurance with the option for reinstatement. it is not a simple contract of indemnity under which the assessee was free to do whatever it liked with the moneys received from the insurance company.on the other hand, under ..... , in the event of there being an election by the insurer to reinstate, there is a cessation of the obligation to make good the loss by money payment and the contract, though initially one of indemnity for repayment of money with reference to the particular risk covered, by the process of the exercise of election or option, becomes really a ..... their loss for a total reinstatement of building and machinery. the reinstatement of the property would take a minimum of 12 months and hence we have assessed the loss on indemnity basis, to meet the insured's request for an immediate payment. the assessment on the basis of 'reinstatement' would be gone into after the completion of reinstatement.thus, the reinstatement ..... contract to reinstate in specie from its inception.their lordships noted with approval the observations of halsbury's law of england, fourth edition, volume 25, paragraph 662, to the effect that " .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Apr-30-1993
Reported in : 1995ACJ851
..... an injury in an accident, he does not acquire any right to get compensation from the insurance company under the policy issued by it which was a contract of indemnity to satisfy the conditions laid down under section 95 of the act. it was held that the liability of the insurer depended upon the liability of the ..... was liable to pay compensation for the injury to the son of the owner. it was held that the owner of the vehicle who had the benefit of indemnity was himself not covered and his representative was in no better position unless he be an employee covered by the first proviso to section 95 (1) (b). ..... of the following conditions, namely:(i) a condition excluding the use of vehicle-(a) for hire or reward, where the vehicle is on the date of the contract of insurance a vehicle not covered by a permit to ply for hire or reward, or(b) for organised racing and speed-testing, or(c) for a ..... or(ii) except where the vehicle is a vehicle in which passengers are carried for hire or reward or by reason of or in pursuance of a contract of employment, to cover liability in respect of the death of or bodily injury to persons being carried in or upon or entering or mounting or alighting ..... and not the owner, so the claim for compensation was not maintainable. it is also urged that the owner of the vehicle was a party to the contract with the insurance company under which it undertook to indemnify the owner for the liability arising against him under the terms of the policy, but the owner himself .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Sep-10-1993
Reported in : 1994(2)ALT500
..... enable the insurer to resist the claim on grounds other than those mentioned in section 96 (2) and held that on the principles of subrogation which applied to all contracts including contracts of indemnity such as motor insurance, the insurer can place himself in the position of the insured against third parties. that later aspect does not arise for consideration in this appeal ..... , 1989 acj 643 (kerala).16. the only circumstance in which an insurer can take defences other than those which are mentioned in section 96 (2) are- (1) where the insurance contract specifically reserves the right of the insurer to raise all grounds available to the insurer (sic. insured), or (2) where the tribunal, for reasons to be stated, records such satisfaction ..... in a proceeding for recovery of compensation can resist the claim only on those grounds and not on any other. the court also held that specific conditions contained in the contract of insurance enabling the insurer to contest the claim on other grounds may avail the insurer if the insurer had also appeared and contested in cases where the court or ..... , being one of the following conditions, namely:(i) a condition excluding the use of the vehicle:-(a) for hire or reward, where the vehicle is not the date of the contract of insurance a vehicle not covered by a permit to ply for hire or reward, or(b) for organised racing and speed testing, or(c) for a purpose not allowed .....Tag this Judgment!
Court : Madhya Pradesh
Decided on : Sep-14-1993
Reported in : 1(1994)ACC459
..... .10. as against it respondent no. 1 jalamsingh (appellant in appeal no. 225/82), has submitted that his plea of transfer of vehicle has been rejected. there was a contract of indemnity between him and national insurance co. and therefore, the insurance co. was liable to make payments. it was also submitted that it was for the insurance co., to have shown ..... the liability shifted on the insurance co. to show breach of terms if any including driving of the vehicle without licence. in the absence of any breach of terms of contract the insurance co. was liable to make payments.13. in this case jalamsingh wanted to show at the first instance that there was a transfer of vehicle but the transfer ..... by agreement of sale to one omprakash and thus, disclaimed the liability of payment.5. the respondent no. 2 national insurance co. also denied the claim and pleaded that the contract was with jalamsingh and as the vehicle was transferred without the connivance and notice to insurance company and, therefore they are not entitled for making any payments.6. the claimant .....Tag this Judgment!
Court : Karnataka
Decided on : Jun-04-1993
Reported in : II(1993)ACC627; 1993ACJ946; 80CompCas576(Kar); ILR1993KAR1991; 1992(2)KarLJ559; (1994)ILLJ500Kant
..... 601 of 65 comp cas) : 'to construe such a provision as one which takes away the right of the insured-employer to obtain indemnity under a contract of insurance, unless he becomes insolvent or makes a composition or a scheme of arrangement with his creditors or if the employer-insured is a ..... have held in paragraph 12 as follows : 'thus, where the appeal, while it may be an appeal against the order allowing the claim of indemnity against the appellant, is not such an appeal alone, but is also an appeal against the basic order awarding compensation to the workman then it is ..... 30(1), inserting the third proviso did not foresee this kind of complicated questions having it own intricacies arising. however, having regard to the indemnity under taken by the insurance company while issuing a policy in respect of a motor vehicle of the insured including the employer under the act, ..... view taken by the division bench construing the provisions of section 14 is to the effect that the insurer cannot avoid its liability under a contract of insurance issued specifically for covering the employer's liability to a workman under the workmen's compensation act. therefore, the construction of section ..... it. we, therefore, hold that the provision in section 14 does not enable the insurance company (appellant) to avoid its liability under a contract of insurance issued specifically for covering the employer's liability to a workman under the workmen's compensation act, to avoid such liability on the .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Feb-18-1993
Reported in : (1993)45ITD352(Kol.)
..... or the transfer of any right in the property in favour of the insurance company and that the payment was by virtue of the contract of insurance or indemnity and under the terms of the said contract.7. respectfully following these two decisions, we hold that the cit (appeals) was not right in directing the assessment of the amount of rs. 8 ..... ) of the act and the provisions of section 45 were not attracted. it was held that the money received under the insurance policy in such case was by way of indemnity or compensation for the damage, loss or destruction of the property. it was further held that the compensation cannot be stated to be consideration for the transfer of the property .....Tag this Judgment!